GFP Real Estate LLC has completed seven lease transactions totaling 27,470 square feet at the Flatiron District’s 230 Fifth Ave., also known as The New York MarketCenter Building. The 99% leased specialty showroom building is the New York hub of the home textiles industry, home to more than 140 luxury home fashion accessories companies from across the globe.
GFP Real Estate Principal Jane Gural-Senders and Leasing Director Harvey Richer represented the landlord, GFP Real Estate, and the tenants in each of the direct lease transactions listed below. Although the terms of the transactions below were undisclosed, asking rents at the building are approximately $56 per square foot.
“We are thrilled to announce the seven new lease renewals and expansions at 230 Fifth, a building that remains nearly 100 percent leased,” added Richer. “Demand remains extremely high—our tenants continue to grow and expand their showroom spaces within the building. We are proud that GFP Real Estate can support these company’s ongoing success and accommodate their evolving needs.”
Taram Textiles LLC, a vertically integrated global textiles player, signed a five-year lease for 3,241 square feet on the second floor. The company took an additional 1,916 square feet as part of its new lease, leasing 150% of the size of the company’s office and showroom space. Faze Three Limited, a publicly traded company based in India that manufactures and exports auto fabrics and home textiles, signed a new four-year lease for 2,923 square feet of showroom space on the second floor. S.L. Home Fashions Inc., a global lifestyle brand that creates and sells home textiles to key retail partners throughout North America, signed a six-year lease extension for 10,176 square feet on the 14th floor. The company, which previously occupied 8486 square feet, took an additional 1,690 square feet as part of its expansion.
Harper Group LLC, a company “bringing the most unique and sought-after home, gift, publishing and lifestyle brands to discriminating retailers across the country,” signed a five-year lease renewal for its 3,022 square feet on the fifth floor. Manufacturer Afroze Textile signed a four-year lease extension for 1,580 square feet on the fifth floor. The company took an additional 773 square feet, doubling the size of its office and showroom space. EverGrace Home, a designer/home décor product developer focused on making premium quality beddings and throws, signed a five-year lease extension for 3,528 square feet on the 2nd floor. The new lease marks a significant expansion for the company, which previously had 1`309 square feet on the 4th floor.
Direct Home Textiles Group, a wholesale distributor of textiles in the U.S., signed a five-year lease renewal for 3,000 square feet on the second floor. The company previously had 2,600 square feet on the fourth floor.
